Immediate Reaction to Unexpected Decrease in Price
It’s difficult to set a date or even predict when a competitor will launch a flash sale. However, if their flash sale occurs, a competitor will use it as a selling feature in their promotion.
So, if businesses promote themselves on platforms like Facebook and Google, they may drastically reduce their CPM rates, thus increasing the impact as well as range of their advertising expenditure. This might be a concern for brands that do not respond soon enough. Moving into a competitive market without sufficient information will not lead to success. For creating competitive-edge in the market, in such as case, you can choose to use web scraping services.
It is important to position yourself in such a way that you can react to the competitor pricing adjustments and also forecast and take benefits from them.
The Former Technique of Responding to Low-Priced Solutions
Unfortunately, most price managers react when it’s too late, or by scraping competitor websites and marketplaces to check if anything has changed.
There is a traditional way of manually tracking competitors but in many circumstances, this is impracticable and costly. This method takes time and it can also take hours to get a clear picture of what competitors are doing. By the time when adequate research is completed, the competitor’s flash sale already gets momentum!
What Brands Do When They Have Price Intelligence Data?
Pricing Intelligence Data provides managers with the earliest possible hint when a drastic shift occurs in the competitor’s actions.
Managers may therefore plan ahead of the competitor’s flash sale obtaining hints by using the accessible data. To overcome pricing complaints from the customers, changes might be done to advertising campaigns and product websites. A choice might also be taken to start a flash sale at the same time or postpone it until it gets completed.
The fact is that price managers with access to significant and timely price will be in a situation that must select whether to react or not, rather than being obliged to take a chance.
The pricing managers, having access to previous price-drop alert information, are in a good position, as they utilize data for future price reductions, particularly if a trend emerges from their competitor’s flash sales and even get it.
X-Byte Enterprise Crawling provides web scraping tools that monitors your competitors across every key marketplace obtaining thousands of pricing points and competitive data from websites worldwide. We’ll assist you in extracting competitors’ pricing data secrets to improve your sales as well as profit margins while demanding no manual inputs from you.
X-Byte Enterprise Crawling offers:
- Accurate competitor information
- Customized solutions for you
- Human quality assurance
- Extensive product matching
For any web scraping services, contact X-Byte Enterprise Crawling or request for a free quote!
Request for a quote!